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101: Trade Away May

101: Trade Away May

Episode 101 Published 11 years, 1 month ago
Description
Lots of new laws! Hear all about the final version of fast track and other trade related dingleberries, new measures to combat human trafficking, and new benefits for veterans. In this episode, you'll also learn about the bills that passed at least one branch of Congress in May, which include a poisonous scientific research funding bill, an anti-abortion bill, lots of bills to funnel taxpayer money into private pockets, bills that benefit veterans' families, and more. After the break, get the details for the Chicago and Miami meet-ups, an update on the Congressional Dish Arms Race, and hear a indisputable argument for why train travel is superior to plane travel. Please support Congressional Dish: Click here to contribute with PayPal or Bitcoin; click the PayPal "Make it Monthly" checkbox to create a monthly subscription Click here to support Congressional Dish for each episode via Patreon Mail Contributions to: 5753 Hwy 85 North #4576 Crestview, FL 32536 Thank you for supporting truly independent media! Meet Up Times & Locations Chicago: Wednesday, August 5th 6:30pm: Sweetwater Tavern & Grille 225 Michigan Ave Chicago, IL 60601 (312) 698-7111 Co-Hosted by Kevin and Loren, hosts of Political Discontent Radio Miami: Tuesday, August 18th 7pm: Emerge Miami Meeting 6pm: Meet and Greet 7pm: Meeting begins Sweat Records 5505 NE 2nd Ave. Miami, FL 33137 (786) 693-9309 8:30pm: Elwoods Gastro Pub 188 NE 3rd Avenue Miami, FL 33132 (305) 358-5222 Laws H.R. 2146: Defending Public Safety Employees' Retirement Act Became the vehicle for Trade Promotion Authority to become law Allows Federal law enforcement officers, firefighters, and air traffic controllers with 20 years experience to avoid a 10% tax penalty if they withdraw from their retirement plans after age 50, instead of 59.5 years old. The effects of this on the budget will not be counted. Passed 407-5 Sponsored by Rep. David Reichert of Washington 43 pages Did Your Rep & Senators Vote for Fast Track? Check your Senators' Votes on H.R. 1314 Check your Representative's Vote on H.R. 2146 H.R. 1295: Trade Preferences Extension Act Title I: Extension of African Growth and Opportunity Act (AGOA) Background Original African Growth and Opportunity Act was signed into law by President Clinton in 2000. Allows certain products from some African countries to be imported tax-free. Oil accounted for 68% of these imports in 2014; "despite remaining the top U.S. import under AGOA, U.S. oil imports from the region have fallen by 80% or nearly $40 billion since 2011." Clothes and vehicles from South Africa are the other main products imported tax-free under this law The law was going to expire on September 30, 2015. The assistance is intended to "encourage governments to Liberalize trade policy Harmonize laws and regulations with WTO membership commitments Engage in financial and fiscal restructuring Promote greater agribusiness linkages. Reauthorization Highlights Extends the AGOA until September 30, 2025 Eliminates the President's ability to terminate an African country's eligibility for the program without notifying Congress and the country 60 days before. Creates an annual public comment period regarding whether the African countries are meeting their eligibility requirements. Increases the number of people employed full time to make sure African food exports meet U.S. food safety standards from 20 to 30. The Congressional Budget Office estimates that extending this program will cost us $2.8 billion in lost tax revenue by 2025 Title II: Extension of Generalized System of Preferences Background A bigger program for allowing products to be imported tax-free into the United States, which was first created in 1974. President Obama terminated Russia's status as a Generalized System of Preferences country in October 2014, after the invasion of Crimea. Extension Highlights Extends the Generalized System of Preferences (GSP) program until December, 2017. Backdates the effective date to July 31, 2013, whe
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